By Philip J. Kavesh, J.D., LL.M. (Taxation), CFP®, ChFC, California State Bar Certified Specialist in Estate Planning, Trust & Probate Law As your business winds down near year-end (unlike 2012, when everyone was doing last-minute wealth transfer planning because of anticipated changes in the estate tax laws), it’s a good time to work on your business – – rather than in your business, as we practitioners are often trapped doing throughout the year. Hopefully, this article will serve as a brief checklist of action steps you can take now to assure a more effective, profitable and enjoyable 2014. By the way, this…
IRS Announces Inflation Adjustments for 2014 – Increased Exemption Among Others
The Internal Revenue Service announced today annual inflation adjustments for more than 40 tax provisions, including the tax rate schedules, and other tax changes. Revenue Procedure 2013-35 provides details about these annual adjustments. Here are just a few of the adjustments that are coming: The tax rate of 39.6 percent affects singles whose income exceeds $406,750 ($457,600 for married taxpayers filing a joint return), up from $400,000 and $450,000, respectively. The other marginal rates – 10, 15, 25, 28, 33 and 35 percent – and the related income tax thresholds are described in the revenue procedure. The standard deduction rises…
The Joint Exempt Step-Up Trust (“JEST” Trust) Legal Document Form Package—NOW AVAILABLE FOR SALE
Thanks to the help of Alan S. Gassman, J.D., LL.M. (Taxation), Florida State Bar Certified Specialist in Wills, Trusts & Estates and Christopher J. Denicolo, J.D., LL.M. (Estate Planning), MBA, we are pleased to announce the release of The Joint Exempt Step-Up Trust (“JEST” Trust) Legal Document Form Package. This package comes complete with the following items: Data CD-ROM containing the following documents: The JEST Trust (Joint Trust) Legal Document Form which comes in a 66-page modifiable Microsoft Word document with all of the necessary provisions to implement the JEST Trust for your clients. A Client Explanation Letter to be…
Beyond DOMA-Repeal: Property Tax Changes Affecting Unmarried, Non-Domestic Partners in California
By Alma Soongi Beck, J.D. LL.M. Taxation, California State Bar Certified Specialist in Estate Planning, Trust and Probate Law With so much attention on the marriage cases, practitioners advising same-sex couples may be missing two crucial changes in property tax rules from 2013 affecting co-owners of property who are not married to each other or registered in the state as domestic partners. The issue is Property Tax Reassessment, which has often been bad news for same-sex couples. California state property taxes have been governed by Proposition 13 since 1978, which in most cases sets property taxes based on the acquisition…
SPECIAL TELECONFERENCE: The Future of Estate Planning with Jonathan G. Blattmachr
Thanks to The Trust Advisor and Alaska Trust Company for allowing us the opportunity to replay a special audio teleconference rebroadcast of the special program entitled, “The Future of Trusts, Wills & Estate Planning: Predictions from Futurist Jonathan G. Blattmachr that May Impact Your Clients’ Income, Wealth and Lifestyle” with speakers, Jonathan G. Blattmachr, J.D., LL.M. (Taxation) and Douglas Blattmachr on Wednesday, October 30, 2013 at 9am Pacific (12pm Eastern). On this special 60-minute teleconference replay, you will learn: How electronic wills will shape the future of estate planning Where asset protection planning is going and why How directed trust…
NEW SERVICE: Personal Consultation on Seminar Marketing with Ultimate Estate Planner Executive Director, Kristina Schneider
Think seminar marketing is dead? Not finding the same results with seminars as you used to? Your results may be due to some very important details, systems and procedures that you aren’t doing correctly (or even at all!). The devil is in the details and not following the tested and proven procedures for successfully implementing seminars may severely impact your seminar results. If you’re not regularly getting business from seminars, closing over 75% of your seminar attendees and over 75% of those coming in from your seminars, you might benefit from this brand new expert consultation we are now offering….
New White Paper: “How to Handle the Q&A Session at the End of a Living Trust Seminar”
Holding a Questions & Answers Session at the conclusion of a seminar presentation is always important, but perhaps not for the reasons that you might think. The Q&A session of a retail seminar, geared to generate business from either your existing clients or prospective new clients, is a great opportunity to develop interaction between you (the speaker) and the audience. It’s also an opportunity for you to find out what issues people are most concerned with. Keep in mind, while it might be tempting to want to completely answer each question you get, you don’t want to get into too…
Portability Resources for Estate Planners
With passage of the American Taxpayer Relief Act in 2012, portability has now been made “permanent”. Introduced into law for the first time in 2011 with the 2010 Tax Act, the concept of portability permits a married couple to fully utilize its combined $10 million (and now $10.5 million) lifetime exemption as indexed by letting the surviving spouse claim any unused portion of the deceased spouse’s exemption. With this provision now permanent, the surviving spouse no longer has a time limit to decide how best to use the increased exemption both during life through increased gifting and at death by…
Another Successful Ultimate Level Event!
After a much-awaited third and final “Ultimate Level” attorney training program for 2013, we are pleased to announce that we had probably one of the most well-attended and successful events yet last week from October 3rd through the 5th. We went to the Crowne Plaza Redondo Beach & Marina Hotel where we were set up inside their beautiful Seascape Ballroom which not only accommodated our group of attorneys and support staff comfortably in a classroom setting, along with a stage and comfortable lounge chairs for the personal one-on-one consultations before the group, but we were able to display our various…
NEW CHART: Robert Keebler’s 2013 Year-End Tax Planning Chart
BRAND NEW—The 2013 Year-End Tax Planning Chart We are pleased to announce the release of Robert Keebler’s new 2013 Year-End Tax Planning Chart. This chart covers the Top 10 Tax Planning Ideas for 2013 including a further look at Roth Conversions, Harvesting Capital Gains, Gain Harvesting on Investments, PEP/PEASE and the 3.8% Healthcare Surtax. This chart takes a number of Bob’s charts and combines them on an easy-to-follow and simple chart to share with your clients and referral sources. NOTE: The 2013 Year-End Tax Planning Chart is available for purchase on our new credit card processing system and is not…